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OME partner KaiShan announces its first geothermal power plant operating in Hungary

A portion of the following Press Release was reported by Tom Wu of ZheJiang KaiShan Compressor Co., LTD from LinkedIn:

On November 29, on the outskirts of Budapest, Hungary, the Geumsan Tura geothermal power station project was formally grid-connected. This is the first geothermal power project in Europe (for Kaishan) and the first geothermal power station in Hungary.

The project was designed and built entirely in accordance with European standards, and has undergone strict inspection and acceptance to obtain grid-connected licenses. The electricity produced is imported into the European grid.

The project uses a patented "one well" cascade ORC screw expansion power generation technology. The power station installed 3.35MW, and at the same time provides 5.23MW greenhouse heating.

At present, the construction of other Kaishan assisted geothermal power plants overseas is progressing smoothly. As overseas geothermal power plants are put into operation one after another, the transition from geothermal power, to geothermal new energy operators, and geothermal power generation equipment providers has made marked progress.

About Kaishan Group

Kaishan (www.kaishancomp.com) is a world leader in compressor technology and manufacturing. It’s the largest supplier of air compressor equipment in Asia and the third largest in the world. The Kaishan Group includes manufacturing of modular steam and ORC-based screw expander generators, applying its global leading technology to geothermal and recovered energy applications.

In the US and Canada, Kaishan Group partners with Open Mountain Energy of Salt Lake City, Utah on the planning, development, and operation of several geothermal power projects currently under construction. Open Mountain’s power projects includes 85 MW of net power in development.

Kaishan Group is headquartered in Quzhou, China, has more than 4,100 employees, offices in 6 countries, and has 200 sales outlets in 60 countries. During the first three quarters of 2016, Kaishan’s sales amounted to 1.23 billion RMB ($178 million US). Kaishan has no long-term debt and as of December 2016 has a Dun and Bradstreet investment grade rating of 5a2.

About Open Mountain Energy

Open Mountain Energy (www.openmountainenergy.com) is a renewable energy development company specializing in utility scale geothermal and recovered energy projects. Open Mountain’s expertise in developing, managing, and financing power projects combined with Kaishan’s advanced power plant technologies form a vertically integrated premier geothermal and recovered energy company.

Open Mountain combines technology, engineering, project development, financing, and operation, to make its projects highly energy efficient and environmentally friendly. Open Mountain is based in Salt Lake City, Utah and has projects under development in the United States and Canada.

For additional information contact: Brady Olson - [email protected]